tv [untitled] July 9, 2012 1:00pm-1:30pm PDT
we are expecting supervisor cohen. >> please make sure to silence all cell phones and electronic devices. complete speaker cards to be submitted to the clerk. items will be on the july 17 board of supervisors agenda. supervisor mar: we have one short item. >> item number one, resolution authorizing the issuance and delivery of a multifamily housing revenue notes in the golden gate avenue senior community housing. [inaudible] supervisor kim: thank you. thank you for hearing this item
today. authorizing the issuance and delivery of the multifamily housing revenue notes in an amount not to exceed $25,370,000 for the purpose of providing financing for the acquisition and construction of a 90-unit multifamily rental housing project known as 121 golden gate avenue senior committee -- community. this is a project that is being jointly redevelop. as the rebuild of the st. anthony's dining room. very exciting news, and affordable senior housing units. the dining room will be built in its current location so it can continue to serve meals. mercy housing will develop eight floors of affordable senior housing, expected to include
around 90 units, 43 studios, 461-bedroom units. -- four -- 46 one-bedroom units. 18 of these units will serve formerly homeless seniors. this project will have a two- year construction period. it is scheduled for completion in the summer of 2014. the needs of our existing seniors, i think this is an exciting new development in terms of how we will continue to address this gap in need. at this time, i want to call up staff from the mayor's office of housing. >> good afternoon.
thank you for the great summary. this is mortgage revenue bond financing. it is conduit financing whereby the city and county of san francisco issues the bond. we're not responsible for the repayment of these bonds, but it is repaid to the revenue of the project. this is serving low income seniors, these bonds will be repaid from section 200 to a capital grants as well as a tax credit equity. that will be repaid as the -- at the construction completion. it is scheduled to begin in august, and take about two years. it is conduct financing. the city is not responsible for repayment. we do hope that you will repay -- approved bed. -- approve it. supervisor mar: i just want to thank the director of the
mayor's house is -- mayor's office of housing. i know 90 units is really important that there is a need for low-income seniors. this is a project that is above the st. anthony's dining room on golden gate and i am trying to remember the cross street. it is a block off of market street, is that right? during important project, especially for some of the formerly homeless seniors. thank you. if there are no other questions, let's open this up for public comment. is there anyone from the public who would like to speak for on this item? public comment is closed. colleagues, can we move this forward without objection? thank you. could you please call item is 2-13 together?
>> 2-14. legislation package related to the california pacific medical center, cathedral hill and at st. albans campuses. -- and st. luke's campuses. changing the official sidewalk list and approving a street encroachment, plans -- land transfer agreement, and development agreement. supervisor mar: i know we have a number of people from the public who would like to speak. before that, we have presentations from city departments. before the office of economic and workforce development and the department of public health and department of public help speak, we will be followed by a presentation by kathrin dodd, our director of health and human services in the city. we are calling all these items together. this is the third of four major
hearings on this item. the third hearing today, we were scheduled to discuss a number of items from housing to traffic impacts to neighborhood impacts. but because of the different developments that occurred at the last hearing, we are going to focus on the health care aspects. the office of economic development and stakeholders agreed upon this that we will try to focus on health care to understand this complex system. next monday, on july 16, we will resume but those other topics. i also wanted to say that we are trying to encourage maximum dialogue at the board level, especially given the financial information that was revealed at the last meeting. our expectation was even stronger transparency on behalf of all